Finding a Top Financial Advisor Firm in Herndon, Virginia
To help you narrow down your list of options for financial advisors in Herndon, Virginia, we researched the town’s firms to find the top ones based on a number of factors. Here, we identify and compare each firm’s advisory services, fee structure, investment strategies and more. If you don’t have a financial advisor yet, finding one doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Northwest Financial Advisors, LLC Find an Advisor||$1,408,022,578||Varies by account type|| || |
Minimum AssetsVaries by account type
|2||Birks Financial Corp. Find an Advisor||$160,900,000||$1,000,000|| || |
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What We Use in Our Methodology
To find the top financial advisors in Herndon, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer are ranked higher.
All information is obtained through public records and is updated annually after the firms’ form ADV filing. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.
Northwest Financial Advisors
Leading our list is fee-based firm Northwest Financial Advisors (NWFA). NWFA manages assets on behalf of non-high-net-worth individuals, high-net-worth individuals, trusts, estates, charitable organizations, pension plans and corporations. In total, the firm's team of nearly 30 advisors serves thousands of individuals.
For advisory fees, NWFA primarily charges asset-based fees and hourly fees. But certain advisors can also earn commissions from securities and insurance product sales. This transaction-based compensation arrangement can create a potential conflict of interest, but the firm has a fiduciary duty to work in each client’s best interest.
Some of the firm’s advisors’ industry credentials include the certified financial planner (CFP), chartered financial consultant (ChFC), chartered advisor for senior Living (CASL), retirement income certified professional (RICP) and accredited asset management specialist (AAMS) designations.
Northwest Financial Advisors Background
Founded in 2013, NWFA is completely owned by NW Capital Management LLC, which in turn is a wholly owned subsidiary of Northwest Federal Credit Union. Kevin Fisher is the firm’s president and CEO.
As for advisory services, NWFA provides portfolio management, financial planning, pension consulting, selection of other advisors and educational seminars/workshops.
Northwest Financial Advisors Investment Strategy
NWFA’s investment philosophy is focusted on the long term, and advisors utilize several different asset management programs. These include its Strategic Wealth Management Program (SWM) and Strategic Wealth Management Program II (SWM II), Optimum Market Portfolios Program (OMP), Model Wealth Portfolios Program (MWP), Manager Access Select Program and Guided Wealth Portfolios (GWP) program. These programs have varying account minimums.
NWFA normally recommends an asset allocation mix of mutual funds, exchange-traded funds, equities, fixed-income investments or portfolio managers. The firm’s alternative strategy mutual funds may also utilize alternative investments.
Birks Financial Corp.
Birks Financial Corp. is a registered investment advisor (RIA) with assets under management (AUM) almost evenly split between those who do and don't have a high net worth. As for advisory fees and minimum account size requirements, the firm requires a minimum of $500,000 for ongoing financial planning engagements, and clients pay asset-based fees, hourly fees or fixed fees for advisory services.
This is a fee-only firm, as none of Birks' advisors can earn compensation outside of the standard client-paid fees. A fee-based firm, on the other hand, could earn commissions for things like insurance or securities sales, in addition to client-paid fees. However, as a fiduciary, Birks must put client interests' best interests first, at all times. Birks does note that third-party managers "providing investment advice on behalf of our firm are licensed insurance agents."
Birks Financial Background
Birks Financial began its operations in 1996, offering portfolio management, financial planning, pension consulting and independent money manager referral services. The firm’s is James M. Birks. He and James D. Birks own the firm.
The firm charges $1,000 per hour for financial planning services.
Birks Financial Investment Strategy
Birks Financial typically invests for the long term, employing fundamental analysis when evaluating securities and making investment decisions. Its sources for investment recommendations include financial newspapers, magazines, websites, corporate rating services, annual reports and company press releases.
Birks offers investment advice on equity securities, corporate debt securities, commercial paper, certificates of deposit (CDs), municipal securities, investment company securities and U.S. government securities.